Form 4: Destination XL Group Officer Allison Surette Reports Stock Transactions
SEC Form 4
Allison Surette, Chief Merchandising Officer of Destination XL Group, reports the vesting of restricted stock units and subsequent tax withholding.
Summary
- On April 1, 2024, Allison Surette, Chief Merchandising Officer of Destination XL Group, had 2,736 restricted stock units (RSUs) vest and convert into common stock.
- Also on April 1, 2024, 804 shares were withheld to cover taxes at a price of $3.55 per share.
- Following these transactions, Surette directly owns 82,394 shares of common stock and 5,473 restricted stock units.
- The remaining RSUs vest and become exercisable on April 1, 2025 and April 1, 2026.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions, and carries a neutral sentiment.
Industry Context
This filing is a routine disclosure of insider transactions, which are common for executives receiving stock-based compensation.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine executive compensation.
Key Dates
| Date | Description |
|---|---|
| 04/01/2024 | 2,736 Restricted stock units convert into common stock |
| 04/01/2024 | 804 shares withheld for taxes at $3.55 per share |
| 04/01/2025 | Remaining RSUs vest and become exercisable |
| 04/01/2026 | Remaining RSUs vest and become exercisable |
| 04/10/2024 | Date of Form 4 filing |
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